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Articles from CCH Canada

The Estate Planner

Archive:

Issue 75 - April 2001
Deemed Proceeds of Disposition of Property | Pity the Paper Millionaire | B.C.'s Representation Agreement Act Amended | New Ontario Estate Forms | Questions & Answers from the CCRA Re Employee Stock Options | Prescribed Interest Rates

Prescribed Interest Rates

The prescribed interest rates for the second quarter of 2001 are unchanged from the previous quarter and are:

8% on refunds of overpayments;
10% on overdue income tax payments, insufficient income tax instalment payments, unremitted employee source deductions, unremitted CPP contributions and EI premiums, and unpaid penalties; and
6% deemed interest on employee and shareholder loans.

These rates will be in effect from April 1, 2001 to June 30, 2001. A listing of the prescribed interest rates for each quarter, dating back to 1984, is reproduced at 17,170.

About CCH

CCH Canadian is one of Canada’s largest and most respected business to business information services and application software and tools provider for professionals in Canada.

The company tracks, explains and analyzes tax and business related law, annually producing over 250 publications in print and electronic form for tax, accounting, legal, human resources and financial planning professionals.